# In the matter of Doshion Private Limited

> NCLT judgment dated 2023-10-03. Citation: TCN-2023-NCLT-01423. The application was filed by the Resolution Professional (RP) under Section 33 read with 34 of…

- **Court:** NCLT
- **Order date:** 3 Oct 2023
- **Citation:** TCN-2023-NCLT-01423
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/doshion-private-limited-129495d2

## Summary

### Background

The application was filed by the Resolution Professional (RP) under Section 33 read with 34 of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the corporate debtor, Doshion Private Limited. The CIRP was initiated based on an application by IDBI Bank Ltd. under Section 7 of the Code. The RP was appointed as the Interim Resolution Professional (IRP). Public announcements were made, and a Committee of Creditors (CoC) was constituted. The CoC unanimously resolved to liquidate the corporate debtor due to the absence of manufacturing or business activities and the lack of prospects for revival. An appeal against the admission order was dismissed by NCLAT.

## Facts

IDBI Bank Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against Doshion Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced following an order dated 31.08.2021. Ramchandra Dallaram Choudhary was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, comprising seven financial creditors, with aggregate claims amounting to Rs. 1287.96 Crores. The CoC unanimously resolved to liquidate Doshion Private Limited due to the absence of ongoing business activities and the lack of viable resolution prospects. An appeal against the CIRP admission order was

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the corporate debtor, Doshion Private Limited, should be …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016, stipulates that the

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**Reasoning:** The court reasoned that the CoC had resolved with a 100% majority to liquidate the

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**Interpretation:** Section 33 of the IBC provides the framework for initiating liquidation

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**Application:** The CoC's decision, supported by a 100% majority, to liquidate Doshion Private

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Ramchandra…
- **Respondents:** Doshion Private…

## Timeline

- **2021-08-31 — CIRP Commen…**: Tribunal ordered…
- **2021-09-12 — Public Annou…**: Applicant made public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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